Accounts from the adjusted trial balance at September 30, 2021, are listed in alphabetical order below for Vaughn Corp.: Accounts payable $4,460 Income tax expense $620 Accounts receivable 9,190 Income tax payable 200 Accumulated depreciation-equipment 690 Interest expense 90 Bank loan payable 7,800 Interest payable 90 Cash 3,250 Rent expense 1,500 Common shares 7,000 Retained earnings 2,920 Deferred revenue 530 Salaries expense 13,330 Depreciation expense 690 Salaries payable 870 Dividends declared 700 Supplies 1,380 Equipment 15,040 Supplies expense 485 Fees earned 22,485 Utilities expense 770 (a)

Accounts from the adjusted trial balance at September 30, 2021, are listed in alphabetical order below for Vaughn Corp.: Accounts payable $4,460 Income tax expense $620 Accounts receivable 9,190 Income tax payable 200 Accumulated depreciation-equipment 690 Interest expense 90 Bank loan payable 7,800 Interest payable 90 Cash 3,250 Rent expense 1,500 Common shares 7,000 Retained earnings 2,920 Deferred revenue 530 Salaries expense 13,330 Depreciation expense 690 Salaries payable 870 Dividends declared 700 Supplies 1,380 Equipment 15,040 Supplies expense 485 Fees earned 22,485 Utilities expense 770 (a)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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